信美人寿“至暗时刻”：一季度亏损近8000万，保险业务收入下降28%，新董事长胡晗能否“破局”？

Core Viewpoint - The resignation of the founder and chairman of Ximei Mutual Life Insurance has raised concerns in the industry, marking a significant change for China's first mutual life insurance company [2][5][10]. Group 1: Leadership Changes - Yang Fan resigned from all positions except for executive director and management committee member, effective June 30, 2025, due to personal reasons [2][8]. - Hu Han has been elected as the new chairman and will also serve as the CEO, taking over responsibilities pending regulatory approval [5][10]. Group 2: Company Background - Ximei Mutual Life Insurance was established in 2017 with investments from 11 companies, including Ant Group and Tianhong Fund, focusing on mutual ownership and digital operations [6][9]. - The company aims to provide long-term health and pension insurance services, emphasizing inclusive finance [6][9]. Group 3: Financial Performance - In 2024, Ximei Mutual Life reported insurance business revenue of 6.98 billion yuan, a 23% decrease from 9.08 billion yuan in 2023 [11][12]. - For Q1 2025, the insurance business revenue was 647 million yuan, down approximately 28% from 904 million yuan in the same period of 2024 [13][22]. - The company experienced a net profit loss of 79 million yuan in Q1 2025, with total assets reaching 56.75 billion yuan, reflecting a need for improved profitability [22][24][27]. Group 4: Investment and Return Metrics - The investment return rate for 2024 was 3.72%, while the comprehensive investment return rate for Q1 2025 was -0.09%, indicating challenges in asset management [26][28]. - The net asset return rate for Q1 2025 was -3.24%, suggesting that the company is facing efficiency challenges in its asset utilization [26][27]. Group 5: Future Outlook - The company is at a critical juncture with leadership changes and must find a stable growth path amid uncertainties [29]. - Strengthening the mutual benefits and member value proposition could enhance overall development and performance [28][29].